Lion EA

I'm going to look at it again, Joan. I think I have it your way now, working it around to what I was pretty sure it had to be. But the presentation was so different from what I've seen before, that I posted here. Thanx.

Calm down everyone. My response was in answer to Rita who said even the CPAs don't charge as much as HRB (which does sound backwards but wasn't my point). Just that tax preparers who concentrate on taxes, no matter what license they might have or not have, probably are worth more at tax time than anyone else, with or without a credential, who doesn't spend as much time on taxes as Rita does. I have clients that tell me a CPA told them they could do something on their return, but when I ask questions find out the CPA works in a corporation preparing reports for the CFO and prepares no personal returns at all, not even his own (he typically pays the CFO to do it; the CFO often has a biz degree, by the way, not accounting). So, you can't rely on the letters to know what someone is good at. CPA can, but does not have to, equal personal taxes. EA should, but doesn't always, equal personal and small biz taxes. And, either of those without real world experience is probably not yet the equal to Rita or anyone who works hard for their clients, keeping up with tax law. I have an MBA in finance. My advisor wanted me to take the one more accounting course that would give me an MBA in accounting instead. The majority of my courses were accounting (only one less accounting class than accounting majors), but I liked taking the finance courses and statistics and a mix of business classes and writing a thesis, so that's what I did. And, I did spend years in a corporate environment (COO, controller, etc.) before taking tax courses. During those years, I prepared my own return and the trust we set up for my son's college with the divorce and my father's estate in IL and then married a school teacher and had to learn all about unreimbursed employee expenses. I knew it was time to learn a lot more about taxes. I never would've tried to prepare taxes for pay during those years, because at least I knew that I didn't know what I didn't know. None of the accounting courses prepared me to deal with the practicality of filing personal tax returns for real people with all their quirks, and none of my work in companies along side CPAs had anything to do with personal income taxes.

My specialty is taxes, unlike CPAs who must train in auditing, accounting, etc., as well as taxes. I aim to charge more. Still running about 20% less, but getting there. Also, I aim to charge more than HRB. Came from a premium HRB office and held prices constant for three years for continuing clients, but higher for new clients. That was years ago, so all prices increase now. In pricey Fairfield County, people think you're not good if you're not expensive.

Yeah, getting all the We're-going-on-Spring-break-so-I'm-ready-to-sign-my-returns-before-we-leave calls now. I get a lot more work done after the phone stops ringing (even though I let it go to voice mail, the flashing light won't let me forget) and after my husband goes to bed. I still haven't trained him to stop coming in and sitting down in my office, not to talk to me when I'm in my office. I close the door, ignore him, think aloud so I keep my train of thought when he interrupts, bluntly explain what I need; maybe he's un-trainable. I go to bed when I'm too tired to work. Then, I sleep late, letting all the calls and emails collect in my inbox, hopefully answering all the questions I sent late the night before. It's usually faster than talking to clients who jump right into politics or their upcoming trip! I have to sleep four hours per night in my CPAP (97% compliant) or Medicare won't pay for the machine and supplies. Six hours is enough to work, usually. Now, I have my alarm off except when I have morning appointments, and have been sleeping seven. But, I look forward to eight or nine for a couple months to fully unwind after the 18th.

Move your biz back home. Don't tell the PITAs where you are. Or, even the nice clients, if they have returns you don't enjoy preparing, boring, complex, out-of-state, biz, whatever you like the least. By invitation only. You'll scale back your biz but also have lower overhead. Of course, you'll be here with us no matter what you do with your biz!

That may do it. Close enough for government work, and April. She's trying to find documentation of what they have. I told her to save documentation for all the years in Singapore, 2013-2016. Thank you, Judy and everyone, for your research skills.

I quote high on the phone. It never ends up being high when I get into their stuff, but at least I'm closer. And, I weed out the price shoppers who would go somewhere else after a year anyway. If they sound really complex, I tell them I'd be glad to quote them a price after they drop off last year's return for me to look at. Hardly anyone does that. Plus, I'm taking NO new clients now unless they go on extension. Hardly anyone calling now does that, either.

Heard from wife. Definitely not meeting substantial presence test; too many trips to the US for aging parent emergencies. No US-based healthcare during 2015. They all have been on a National University of Singapore plan since husband started working there in August 2013. (They were going to be there for two years, but continuing job until summer 2016.) Does that let me say Yes on their return?

Part III shows no one. Ever. It's afternoon in Singapore, so I hope they get home from work in a few hours and answer my questions. (Jack, I emailed you since you know more about ACA than I do, and included 1095-C as an attachment.)

Yeah, some high-end, high $, high publicity divorces drag on and on and actually can get a court rubber-stamped separation, usually if all the $ stuff is hammered out and it's child custody issues dragging on or cash support is mostly agreed upon but assets are still being argued over. And, those men (it's usually the men that are the higher earners) want to be able to write off support payments, even if they're still arguing over the kids or who gets the ski lodge in VT. (My divorce was not one of those and didn't qualify for a legal separation while the other side drug their feet.)

They definitely don't qualify as bona fide residents. I've shot off more emails to them since receiving the 1095-C which they haven't even seen yet since their Poughkeepsie tenant mailed it this week. I have another international situation coming up, so was trying to get a jump on both these, at least to the point that I know what questions I need to ask. I don't know what I don't know. And, thank goodness, most of my clients have employer coverage with few job changes. 2015 was the year for a few twists, though.

CT doesn't have legal separations, or so a family law attorney told me. If I had a client who claimed one, I'd research that.

My dad loved Southern Comfort. Client went online to download everything re his 2015 compensation, so I have the pages I quoted plus a lot of other details like share price, how much was withheld for taxes, etc. It reads like a same-day cashless transaction. With an extra $7.53 for a fractional share. I'm used to NQO transactions having the "buy" price and code V price adding up to the sales proceeds for no gain/loss, or a tiny loss if fees were charged. The paperwork also notes Net Shares to Deliver 29.0 and states Income $2,678.50 when I would've expected the $4,018.02 from code V to be the income upon which he paid tax.

I really am getting too tired to think straight. I thought I was pretty good at all types of stock options, but not getting the numbers I expect with this one. W-2 box 12 V $4,018.02 that would be NQ, yes? Grant Date 10/29/2009 Exercise Date 07/28/2015 Option Exercise Cost $6,368.88 Total Exercise Cost & Tax Liability $7,359.19 Market Value of Shares Exercised $9,047.56 Income $2,578.58 but how does that tie in with the $4,018.02? A few numbers may be off, the company confirmation has really, really light print, but the numbers are close. Help!

Guess you can't use that just because someone doesn't want to show their DL to you....

Not single if still married on 31 December.

Alabama Society of CPAs > State Issued Driver's License Required When Filing 2015 Income Tax ReturnIn an effort to provide a solution for the Alabama Department of Revenue Drivers' License requirement for all e-filed returns, specifically those individuals who do not have an Alabama Drivers' License or a state issued non-driver identification, the ASCPA State Taxation Committee has worked with the ADOR to offer guidance for immediate problem. The ADOR announcement below is effective immediately: In a continual effort to fight stolen identity tax refund fraud the Alabama Department of Revenue is requiring taxpayers provide their state issued driver's license (or state issued non-drivers ID) when electronically filing their 2015 income tax return. Tax preparers should make a good faith effort to obtain the actual drivers' license or state issued non-drivers' id from their clients. In the event that your client is a child or elderly person without a driver's license or state issued non-drivers id you may enter the following information in order to electronically file the tax return for your client: Driver's License #: 7777777 Driver's License State: AL Issue Date: 11/1/11 Expiration date: 11/1/17 Children and the elderly are often the target of criminals, the Department will take additional steps to validate refund claims filed using the above information.

I haven't put any lipstick on in months. Chapstick, though.

Isn't there a work-around with all 7s or something? Don't have any AL clients and CT not demanding license info yet.

You might want to join the NY/CT-ATP to network. It's a bargain at only about $60/year. Their bulletin board alone is worth that. You can look for members who are in your area or who use your software or who are looking to enlarge their practice. Dinner/education meetings resume Wednesday 18 May at 5:30 p.m. (?) in Danbury. http://nyctatp.org/

I wash my hands a lot during tax season and take zinc. When I seemed to have a head cold earlier, I told clients and did air hugs or nothing. Handshakes are the worst for transferring germs. I do hugs and arm around another leading them out and "bumps" and other touches that don't involve hands, just clothed body parts. Maybe my hand to their shoulder or upper arm, something like that. I have hand sanitizer on my desk for clients and the bathroom is the next room over for anyone wanting to wash their hands before or after. Lots of drop-offs during flu/cold season. Now it's more in person visits to sign and pickup. But, hubby makes lots of deliveries for me (he has 37 years of teaching and building up immunity!)

Extensions. Although, 2014 and the S-corp 2015 are already late. So, deal with this after you've had some R&R and don't have a deadline hanging over your head. Make them provide all organizational paperwork, put their partnership or whatever agreements on paper, etc. (If they spend or spent money on a lawyer, you fees will look really cheap!)

And, they are teaching the next generation!

woo woo

Had one of those my very first year doing taxes. We danced for two hours before she gave it up. Now I use Rita's method to wrench it our of her hands! Unfortunately, they always owe MORE than before they hint that they might've taken money out of their retirement plan, because only the 10% penalty was withheld and not their income taxes. They don't believe me that it would be even worse if they hid it from me when IRS & CT add on penalties and interest.